Multi-Family Apartment Complex For Sale Wichita ks
1808 N MARKET ST, Wichita KS, 67214 For Sale
INCOME PRODUCING MULTI-FAMILY PACKAGE – Property consists of two 4plexes and one Duplex, for a total of Ten 1 bedroom, 1 bathroom units. Eight of the ten units are currently rented for $495 per month, and two of the ten units rent for $400 per month, for a total gross income of $4,760 or $57,120 per year. Rental increase notices will be sent out soon and increase rents to approx $5,000 per month or $60,000 per year. Eight of the ten units have been updated inside, including new laminate flooring, new granite countertops, new fiberglass tub unit, new toilet, new bathroom vanity, mirror and light fixture, new faucets, new bedroom carpeting and pad. Two of the $400 per month units have long-term tenants who have lived here and paid on time for 10 plus years and are therefore not updated. Major improvements include – new HVAC systems in 9 of the 10 units between 2020 and 2022, all windows and front and back doors replaced in 8 of the remodeled units between 2020 and 2022. Seller has extra matching laminate flooring in storage that may transfer to buyer. Tenants pay electric and gas, Landlord pays water and trash. Refrigerator and Oven are provided by landlord and will transfer with sale, property has no laundry hookups, Laundromat located 1 block away. 1808 and 1802 are on east side of market street with shared parking lot, and 1809 is across Market to the west, parking is in alley. Rent roll and expense reports are included in MLS listing. Copies of leases will be provided with an accepted contract. Property to be sold as is, seller to make no repairs. To sellers knowledge, systems and appliances are in working order, assuming normal wear and tear. Seller member is a licensed real estate broker in the state of KS.
MLS Number: 616341
Directions to the Wichita Apartment Complex For Sale
FROM 21ST AND BROADWAY, SOUTH TO 17TH, WEST TO PROPERTY